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So far joshua.deale@cushwake.com has created 87 blog entries.

135,000 SF Core Industrial Facility in San Diego Sells for $24.7 Million

SAN DIEGO, Calif., December 18, 2018 – Cushman & Wakefield announced today the sale of a core industrial facility located in Vista (San Diego), California for just over $24.7 million. Located at 2710 Progress St., the 135,000-square-foot (sf) single-tenant facility is fully leased to longstanding tenant Captek Softgel International. The seller was 2710 Progress Street, LLC, which was represented in the transaction by Aric Starck and Barry Hendler with Cushman & Wakefield San Diego. The buyer, a leading global real estate investment firm, was self represented. Starck, Executive Managing Director, said, “Core industrial assets remain white hot as many institutional investors have mandates for higher industrial allocations in their portfolios and are struggling to source quality assets. A highly attractive and rare investment opportunity, 2710 Progress is a best-in-class, core industrial facility in one of the top performing markets in the U.S. in San Diego, whose countywide industrial market is [...]

2018-12-18T16:15:34+00:00 December 18th, 2018|In the News|

Cushman & Wakefield Hosts Special Event Discussing ‘What’s Next’ for San Diego

Event Offers Deep Insight on Local and National Real Estate and Economic Trends SAN DIEGO, Calif., December 17, 2018 – Cushman & Wakefield in San Diego recently hosted a private Institutional Investor event for clients on December 5, 2018. Held at the Illumina Theater within The Alexandria at Torrey Pines, a prestigious business and community destination in San Diego, the program featured guest speakers Daniel Ryan, Co-Chief Investment Officer & San Diego Regional Market Director of Alexandria Real Estate Equities, Inc. (NYSE: ARE), and Brian Starck, Executive Director at Cushman & Wakefield. The event’s keynote speaker was Kevin Thorpe, Global Chief Economist of Cushman & Wakefield. Dan Broderick, Regional Managing Principal of the Southwest region of Cushman & Wakefield, who is based in San Diego, emceed the event and also provided welcome and closing remarks. The core purpose of the firm’s special capital markets event was to present “What’s Next [...]

2018-12-18T13:31:41+00:00 December 17th, 2018|In the News|

Joint Venture between SteelWave & Funds Managed by Angelo Gordon Make Entry into Carlsbad with Acquisition of 209,000 SF Campus

New Owner Plans Major Transformation of Former Hughes Aircraft Co. Facility into Modern Creative Campus SAN DIEGO, Calif., December 11, 2018 – Cushman & Wakefield announced today the purchase of a 208,904-square-foot (sf) creative office/R&D campus in Carlsbad (San Diego), California by a joint venture between SteelWave, LLC and funds managed by Angelo Gordon. Situated on over 13 acres, the single-story, multi-tenant property is located at 2051 Palomar Airport Rd. and was sold by Palomar Acquisitions Partners, LLC. Executive Managing Directors Aric Starck and Rick Reeder with Cushman & Wakefield in San Diego represented the seller in the transaction. Starck said, “Carlsbad is an ideal choice for this type of redevelopment into a lifestyle campus. Carlsbad has become a hot bed for high-tech, biotech, and medical device companies that are looking for amenity-rich environments so that they can recruit and retain the top talent. The North County market currently has [...]

2018-12-11T18:14:59+00:00 December 11th, 2018|In the News|

Cushman & Wakefield | Chaney Brooks Brings Kauai Organic Farms to Market for Sale for $22.95 Million

HONOLULU/SAN DIEGO, December 4, 2018 – Cushman & Wakefield | Chaney Brooks announced today the firm has been hired to advise the sale of Kauai Organic Farms, a 44.63 acre agricultural property located in Kilauea, Hawaii. Kauai Organic Farms is a grower and wholesaler of high-quality organic turmeric, Hawaiian Yellow Ginger and galangal. Located at 4469W N Waiakalua Rd, the property is positioned in the exclusive community of Kilauea Farms near Kauai’s North Shore. Anthony Provenzano with Cushman & Wakefield | Chaney Brooks based in Honolulu is leading the sale effort. Matt Davis and Curtis Buono of Cushman & Wakefield’s Land Advisory Group in San Diego are providing advisory services. The team has introduced the property to market at a price of $22.95 million. Davis said, “Kauai Organic Farms is one of the most profitable organic farms in Hawaii, with approximately 26 farmable acres and a 150 GPM water well. [...]

2018-12-04T13:11:19+00:00 December 4th, 2018|In the News|

The Yard, a Creative Re-Use Office Project in Sorrento Mesa, Sells for Nearly $25 Million

SAN DIEGO, Calif., December 3, 2018 – Cushman & Wakefield announced today the sale of The Yard, a 60,518-square-foot repurposed creative office building in Sorrento Mesa (San Diego), California. TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA) and one of the largest real estate investment managers in the world, acquired the property for $24.825 million, equating to a price of $410 per square foot. The property was sold by the joint venture of Locale Advisors and Long Wharf Capital. Rick Reeder and Brad Tecca with Cushman & Wakefield’s Capital Markets in San Diego represented the seller. Bill Cavanagh and Mike Novkov of the firm also provided local market expert advisory. “Essentially considered Class A real estate today, creative product remains highly desirable for tenants and therefore investors,” said Reeder, Executive Managing Director. “The Yard is an adaptive re-use of a single story building repurposed into [...]

2018-12-03T12:06:24+00:00 December 3rd, 2018|In the News|

Navarra Properties unveils SuperBlock @ I.D.E.A. District — redevelopment will bring first major creative office warehouse conversion to Downtown San Diego’s East Village

SAN DIEGO (Nov. 27, 2018) - Navarra Properties introduced today the  SuperBlock@I.D.E.A. District, a multi-phase development on an approximately 2.75-acre site bounded by E, F, 14th and 15th St. in Downtown San Diego’s East Village. Phase One features the Warehouse, a 100,000-rentable-square-foot conversion of two former Jerome’s warehouses into creative office space. Phase Two is planned as a 450,000-rentable square foot, 17-story contemporary office building. Already completed on the block is the conversion of the former Coliseum Building into Punch Bowl Social, a vibrant 24,000-square-foot, multi-entertainment complex, which features a restaurant, social games, and the infamous 360 bar. The SuperBlock project will be managed by a joint venture between Lowe and David Malmuth Development, and leasing will be handled by the San Diego and San Francisco offices of Cushman & Wakefield. The San Diego office of BNIM is the project’s architect. The Warehouse, located on the north side of F [...]

2018-11-28T17:50:38+00:00 November 28th, 2018|In the News|

Cushman & Wakefield Announces the Sale of New, Class A Self Storage Facility in San Diego

SAN DIEGO, Calif., November 27, 2018 – Cushman & Wakefield announced it has completed the sale of Aero Drive Self Storage in San Diego County. The project is located at 9645 Aero Drive in the Kearny Mesa area of central San Diego and totals 88,000 rentable square feet. The seller was Los Angeles-based Baron Equities and the buyer was a well-capitalized, national operator. Greg Wells, Senior Director of Cushman & Wakefield’s Self Storage Practice Group, represented both Buyer and Seller in the transaction. “Aero Drive Self Storage is a best-in-class asset located on a main thoroughfare with high traffic counts in a densely populated, high barrier to entry Central San Diego trade area,” said Wells. “Sold at completion of construction, the project offers the buyer the possibility of higher yields versus stabilized assets.” Wells added, “The self storage market overall maintains strong demand from all capital sources and in particular [...]

2018-11-27T15:51:47+00:00 November 27th, 2018|In the News|

Small Industrial Building Sold to Owner-User in North San Diego Achieves Record Pricing

  SAN DIEGO, Calif., November 14, 2018 – A freestanding 9,150-square-foot industrial building in Vista (San Diego), California has sold to an owner-user for $1.79 million. Ki’s Kitchens, a privately-owned commercial kitchen company based in North County, acquired the high image property located at 2530 Pioneer Ave. from BS Ventures, LLC. The buyer plans to relocate from its current location in neighboring Carlsbad. Chris Baumgart and Jeffrey Sallen of Cushman & Wakefield’s San Diego office represented the seller in the transaction. Baumgart said, “This is a desirable, well positioned building that made for an ideal purchase opportunity for a smaller operator. We generated multiple offers after only actively being on the market less than a month before securing a buyer.” Sallen added, “Exemplifying the ongoing strong demand and interest for this type of facility in our region, according to our tracking, the $195 price per square foot achieved [...]

2018-11-14T18:10:19+00:00 November 14th, 2018|In the News|

Cushman & Wakefield Represents American Nevada Company in Concluding Disposition of 1.2 MSF Southern Nevada Portfolio

San Francisco-based JMA Ventures Acquires Final Three Buildings totaling 162,940 SF LAS VEGAS/SAN DIEGO – November 13, 2018 – Cushman & Wakefield announced today the firm has completed the sale process for an entire 1.2 million-square-foot (msf) master portfolio in Southern Nevada on behalf of American Nevada Company. The disposition came to a successful conclusion with San Francisco-based JMA Ventures recently acquiring the master portfolio’s final three buildings totaling 162,940 square feet (sf) for $34 million. Designated as the Village View Drive subportfolio, the trio of properties are located at 2475, 2485 and 2495 Village View Dr. in the prestigious master planned Green Valley Corporate Center in the city of Henderson. Representing American Nevada Company throughout the disposition process were Rick Reeder and Brad Tecca of Cushman & Wakefield’s Capital Markets in San Diego who both primarily focus on larger, best in class, institutional office and industrial investment sales throughout the Pacific Southwest. [...]

2018-11-13T17:58:55+00:00 November 13th, 2018|In the News|

Curology Continues Local Growth with 54,200 SF Lease at Montana Avenue Capital Building in Sorrento Mesa

SAN DIEGO, Calif., November 6, 2018 – Curology, a San Francisco-based custom skin care company, is expanding its presence in San Diego to 54,232 square feet at a newly renovated office building at 5717 Pacific Center in Sorrento Mesa, which is owned by Montana Avenue Capital Partners. Curology is relocating its local offices from UTC to accommodate the rapid growth of the company over the last five years, and will be nearly tripling in size with this new lease. Bill Cavanagh and Mike Novkov with Cushman & Wakefield’s San Diego office represented the landlord in the transaction. Cushman & Wakefield’s Casey Sterk together with Tom van Betten of Matter Real Estate represented the tenant. Montana Avenue Capital recently acquired the property as a vacant building and completed a significant renovation of the project to position the building as a first class creative office project. The renovation included updating the look [...]

2018-11-12T15:17:50+00:00 November 6th, 2018|In the News|